09.12.2008 - Korea SWF backs Merrill's Thain after loss
From Bloomberg: Korea Investment Corp. said it still has faith in Merrill Lynch & Co. Chief Executive Officer John Thain after a stock rout that cut the value of its stake by $800 million and forced the firm's sale to Bank of America Corp. “He was willing to change the company and Merrill needed a change,” Guan Ong, the $30 billion sovereign fund's chief investment officer, said yesterday in an interview in Seoul. “We made the right decision because we believe in John Thain.” ..... Full Article: Source